Foxconn Interconnect Technology jumps most on record on robust H1 estimates

Foxconn Interconnect Technology

18/07/2022 03:05

** Shares of communication products maker Foxconn
Interconnect Technology Ltd  6088.HK , or FIT Hon Teng Ltd, jump
as much as 32.7% to HK$1.30, the biggest daily pct gain since
debut in July 2017 if gains hold
    ** Stock hits the highest since March 3; the biggest pct
gainer in Hang Seng Composite Index  .HSCI  and Hang Seng
sub-index tracking information technology firms  .HSCIIT  
    ** Co, a unit of Hon Hai Precision Industry  2317.TW ,
expects first-half net profit to increase to $80 mln-$90 mln,
from $8 mln in a year ago period, thanks to operational recovery
from anti-pandemic measures  urn:newsml:reuters.com:*:nFWN2YW4D9
    ** Says the board remains cautious about the results in the
second half of 2022 due to volatility in the macro environment
including risk of supply chain disruption amid potential
outbreak of new COVID-19 variants and impact of inflation on
produuct demand  
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  climbs 0.3%, the Hang Seng Composite Index
 .HSCI  gains 0.6% and the benchmark Hang Seng Index  .HSI 
rises 0.8%
    ** As of last close, the stock had dropped 36% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))